Loan after bankruptcy

nazd · 19 October 2013 at 4:26PM

Hi, I was wandering if someone could help/advise etc. I need a loan to purchase a car. However I had to declare bankruptcy nearly 2 and a half years ago so I am disch gybed and trying to build my credit rating back up. Can you recommend a company etc for a loan that's not going to cost the earth?? Please help

DCFC79 · 19 October 2013 at 4:33PM

nazd wrote: »

Hi, I was wandering if someone could help/advise etc. I need a loan to purchase a car. However I had to declare bankruptcy nearly 2 and a half years ago so I am disch gybed and trying to build my credit rating back up. Can you recommend a company etc for a loan that's not going to cost the earth?? Please help

A lender that costs the earth might be your only option.

Have you checked out the bankruptcy board ?

What is on your credit file ?

Whatever you do dont go searching for bad credit loans or alike a sthat wont help.

jonesMUFCforever · 19 October 2013 at 6:14PM

Only one company comes to mind AMIGO - oh but they require a guarantor. Would be much simpler and cheaper if the guarantor got a loan in their name and gave you the money.

Would I personally lend to you - would I 'eck.

BugsyBrowne · 19 October 2013 at 6:33PM

nazd wrote: »

Hi, I was wandering if someone could help/advise etc. I need a loan to purchase a car. However I had to declare bankruptcy nearly 2 and a half years ago so I am disch gybed and trying to build my credit rating back up. Can you recommend a company etc for a loan that's not going to cost the earth?? Please help

I suppose after going BR I'm sure you'll most probably have a few quid in your pocket left over each month now but finding a company that's going to lend you any money is another thing..

droiderm · 20 October 2013 at 8:54AM

nazd wrote: »

Hi, I was wandering if someone could help/advise etc. I need a loan to purchase a car. However I had to declare bankruptcy nearly 2 and a half years ago so I am disch gybed and trying to build my credit rating back up. Can you recommend a company etc for a loan that's not going to cost the earth?? Please help

Forgetting about asking who can give you a loan , ask yourself do you really need one. I would be very careful about getting out any kind of large amount of credit.

How do you propose to pay for the loan?
Can't you save for a few months and buy a really cheap car for the time being ?

alastairq · 20 October 2013 at 10:14AM

Ignore the self-righteous responses from the ignorati.

The BAnkruptcy stays on your credit file [for what that's worth these days?]....for 6 years from date of BR.

For conventional loan applications this might prove a hindrance.

However, [thinking ahead for the moment] why not start up an account with a local Credit Union?

Also, many car dealers are more interested in getting customers onto credit payments [rather than selling the car]...so a dealer might be worth investigating?

nazd · 31 October 2013 at 1:52PM

Aha thanks for the advice people

Loan after bankruptcy

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